What exactly can payment institutions do under the Directive?
The Directive broadly authorises three different types of payment institutions: • money remitters, • payment transactions carried out by mobile telecom operators, and • full-range payment service providers (e.g. credit transfers, direct debits, card payments) including credit related to the payment. Additionally payment institutions may carry out payment related services e.g. foreign exchange services, safekeeping activities, operation of payment systems for their payment services. Finally, payment institutions are allowed to carry out other business activities, e.g. retailing, telecoms.
